Gail seeks re-look at price of LNG in import deal with Australia

摘要

State-owned gas utility Gail India has demanded price renegotiation of an LNG import deal with Australia's Gorgon project because of its high price. Gail has asked Petronet LNG Ltd. to renegotiate the 20-year deal to buy 1.44 million tonnes per annum (mtpa) of liquefied natural gas (LNG) at a price equivalent to 14.5 per cent of ruling oil rates. Gail is a promoter of Petronet LNG with" 12.5 per cent stake. "Since international markets have changed (since the signing of the deal in August 2009), we feel there is a strong case for renegotiation," said Gail's Chairman and Managing Director Mr. B. C. Tripathi.